many Americans have found themselves deep in credit card debt. Many people owe well over $2000 in credit card debt. Some people even owe $20‚000 or $50‚000 or even $75‚000 in credit card debt. Every day we receive even more offers for new credit cards at department stores and in the mail. If we are not careful with our spending‚ our credit can become a big problem. Credit cards are very useful in emergency situations‚ so it is good to have at least one. Put it away where you will not be tempted to
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What is a credit card? A credit card allows you to borrow money from your bank to make your purchases‚ whether you’re buying a burger or more expensive products. As long as you pay back the money you borrowed within the “grace period” of 25-30 days‚ you don’t have to pay extra. If you don’t pay it back in that time period‚ you’ll have to pay interest – a percentage of the money you owe the bank – on top of what you borrowed. When you’re deciding which credit card to get‚ ask yourself one question:
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Elaine Chan KE Credit card- a blessing or a curse? According to a recent survey‚ credit card is gaining in popularity nowadays. Majority of the citizens aged above eighteen are having at least one credit card. Nevertheless‚ the number of tragedies arising from bad debts has been surging over the past few years. Is credit card a blessing or a curse? Before coming to a conclusion‚ lets first get an insight of the issue. Considering the convenience that credit card brings you‚ the free gifts
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Causes of Overspending with credit cards In recent years‚ overspending with credit cards has become a growing trend amongst young people. In my point of view‚ the causes of overspending with credit cards are convenience to purchase‚ credit cards’ postponable payment and minimum monthly payments. Convenient to purchase is one main cause of overspending with credit cards. Prescott (2006‚ p1) states that “Giving a teenager a prepaid credit card or access to a parent’s card is fairly common today. It
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The use of credit cards is increasing day by day. People are relying more on credit cards nowadays than in the previous days. Credit card is a card which allows the user to pay for the things. Credit cards are offered by the banks and other financial institutes. The credit card allows the user to use the credit available on his or her credit. The credit card user can buy the things and now pay for it later. There are some advantages and some disadvantages associated with using credit card. In this
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Unethical Credit Card Practices The ethics of credit card companies has to be in question. They are one of the few businesses that can change the rules on you and there is currently nothing you can do about. The credit industry is not your friend. They want to get you to borrow money from them and to keep you in debt for as long as possible. This way they have a constant flow of revenue through the interest payments‚ late charge fees and over the limit fees. They have many practices and charges
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concept of credit‚ utilizing charge plates and credit coins as medium of currency. Such cards were accepted at important business centers in limited locations. At the advent of 19th century the companies as well as retail segments had the privilege of issuing proprietary cards. This ensures customer loyalty and satisfaction as well as endurance for a few years of withstanding capacity with improved earnings. During late 1940s master card was introduced and during 1950s diners card usage was
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advise getting one‚ for multiple reasons. 1. Readily available cash that is safe‚ and by safe‚ I mean there are safeguards if it is lost or stolen. Cash and debit cards do not protect you like credit cards do. 2. Secure online shopping. That means fraud protection. 3. Having and using a card will build your credit‚ helping you later when you want a car or home loan‚ or want to refinance loans. Really‚ if you are responsible with your money‚ you have no reason to not have a credit card. Just make
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The most important advantage of using a credit card is convenient. People can use credit card buy anything everywhere. For example‚ supermarket‚ drug store‚ clothes store‚ shopping center‚ restaurant….all general place are accepted a credit card. Moreover‚ people can remote purchase any products that they want‚ for it enables people to purchase products and services remotely via the internet or phone. When people using a credit card shopping by telephone or in the Internet can speed delivery and
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for the consumer is that it enables those who don’t own a credit card to enjoy the opportunities of internet. Because of the undeveloped credit card industry in many developing countries‚ only a small segment of the population are able to acquire credit cards and can use the services or buy goods over the internet. In addition‚ the requirement of signature by the card owner hinders the ability of the credit card owners to use their cards on internet purchases. By using e-cash‚ more of the population
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